Marathon Digital (NASDAQ:MARA) CFO Salman Hassan Khan Sells 16,000 Shares of Stock

Marathon Digital Holdings, Inc. (NASDAQ:MARA) CFO Salman Hassan Khan sold 16,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $12.00, for a total transaction of $192,000.00. Following the completion of the transaction, the chief financial officer owned 425,066 shares in the company, valued at approximately $5,100,792. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Salman Hassan Khan also recently made the following trade(s):

• On Friday, April 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The shares were sold at an average price of $11.68, for a total transaction of $186,880.00.
• On Tuesday, March 17th, Salman Hassan Khan sold 16,000 shares of Marathon Digital stock. The shares were sold at an average price of $9.18, for a total transaction of $146,880.00.

Marathon Digital Price Performance

NASDAQ:MARA opened at $13.15 on Thursday. The firm has a market cap of $5.01 billion, a PE ratio of -2.30 and a beta of 5.41. Marathon Digital Holdings, Inc. has a 12 month low of $6.66 and a 12 month high of $23.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $10.42 and its two-hundred day moving average price is $10.52.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings data on Thursday, February 26th. The business services provider reported ($4.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($4.29). Marathon Digital had a negative net margin of 234.83% and a negative return on equity of 23.20%. The business had revenue of $202.31 million during the quarter, compared to the consensus estimate of $250.74 million. During the same quarter in the previous year, the firm posted $1.24 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Marathon Digital Holdings, Inc. will post -1.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Marathon Digital

A number of institutional investors have recently modified their holdings of MARA. Integrated Wealth Concepts LLC raised its stake in shares of Marathon Digital by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the business services provider’s stock worth $127,000 after acquiring an additional 991 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Marathon Digital by 65.3% in the first quarter. NewEdge Advisors LLC now owns 7,672 shares of the business services provider’s stock worth $88,000 after acquiring an additional 3,032 shares during the last quarter. United Services Automobile Association raised its stake in shares of Marathon Digital by 8.2% in the first quarter. United Services Automobile Association now owns 20,634 shares of the business services provider’s stock worth $257,000 after acquiring an additional 1,569 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Marathon Digital by 11.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 643,311 shares of the business services provider’s stock worth $7,398,000 after acquiring an additional 63,903 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in shares of Marathon Digital in the second quarter worth about $183,000. 44.53% of the stock is owned by institutional investors.

Key Stories Impacting Marathon Digital

Here are the key news stories impacting Marathon Digital this week:

• Positive Sentiment: Bitcoin miners, including Marathon Digital, may benefit from rising demand for power access as AI firms pay premiums for electricity infrastructure, which could improve the sector’s economics. Bitcoin Miners Benefit as AI Firms Pay Premiums for Power Access, Morgan Stanley Says
• Neutral Sentiment: An article comparing Core Scientific and Marathon Digital may have drawn attention to MARA’s relative positioning in the bitcoin mining industry, but it does not appear to be a direct catalyst. Comparing Core Scientific (NASDAQ:CORZ) & Marathon Digital (NASDAQ:MARA)
• Negative Sentiment: Morgan Stanley cut Marathon Digital’s price target from $8.50 to $7.00 and reiterated an underweight rating, signaling a more cautious view on the stock’s upside. Benzinga report on Morgan Stanley price target cut
• Negative Sentiment: CEO Frederick G. Thiel, CFO Salman Hassan Khan, and General Counsel Zabi Nowaid all sold shares under pre-arranged 10b5-1 plans, which can still weigh on investor sentiment because it increases perceived insider selling pressure.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Weiss Ratings downgraded Marathon Digital from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, May 12th. HC Wainwright reaffirmed a “neutral” rating on shares of Marathon Digital in a research note on Friday, February 27th. Rosenblatt Securities boosted their target price on shares of Marathon Digital from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Morgan Stanley dropped their target price on shares of Marathon Digital from $8.50 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, Cantor Fitzgerald dropped their target price on shares of Marathon Digital from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.38.

About Marathon Digital

Marathon Digital Holdings, Inc is a digital asset technology company specializing in the mining and acquisition of bitcoin. Headquartered in Las Vegas, Nevada, the firm employs high-performance application-specific integrated circuit (ASIC) miners and proprietary software to secure the Bitcoin network and expand its crypto-mining footprint. Marathon Digital focuses on operational efficiency and scalability, while maintaining rigorous standards for regulatory compliance and corporate governance.

The company operates multiple large-scale mining facilities throughout North America, including sites in Texas, Montana and New York.